A top issue or concern with hiring an agency to complete marketing for any business in any industry is the redundancy of effort from one brand to another within that agency's portfolio. Any strong business leader understands that to succeed is to capture and grow market share. When an industry or a portfolio of brands is marketed in the same way and with the same tactics it puts every company at the same vantage. In order to outperform, outshine, and outpace competitors, it requires strategic and innovative planning based on each specific brand's identity and character aligned with the company's target market.
Utilizing a quality marketing professional's discovery skills for your company, will allow the marketer not only to learn about and understand the market, competition, and your brand but also build solid and competitive strategy around how to exploit the brand's strengths, manage opportunities, and innovate ways to compete with existing market strategies employed by competitors. A full, quality discovery should take no less than a month of work and reporting should provide the client with clear picture of what is going well, what can be improved, where return on investment can be tightened up, and ultimately a creative strategy that differentiates from what others in the industry are doing by improving what works to what works best.
If everyone is doing it because it works, it is a tell-tale sign that the strategy the lowest common denominator in market share acquisition and opens the door of competitive advantage to the marketing strategy that learns from status quo and improves on it. Below are some key points to think about in building marketing strategy.
5 Indicators You May Not Be Competitive
Status Quo Market Strategies equal loss of competitive advantage
If it has always worked, you're not testing for improved opportunities
What the consumer wants is more important that what you want
Brand Identity is important, Brand Relatability is everything
You are doing it because everyone is doing it
Building an innovative and competitive strategy is a marketing thing. Hiring a marketing professional that understands how to research, plan, build, and initiate a strategy that isn't just tossing noodles at a wall and seeing what sticks will help you and your company build success, market share, and return on your investment. When you work with someone that understands intricacies of consumer behavior, competitive relationships, and market nuances through a well thought out and comprehensive discovery report, you are teamed up with someone that will deliver quality and sustainable results.